According to Realty Trac last year the share of home buyers using low down payment loans plunged to an 11 year low. But the new 3% down payment Fannie Mae and Freddie Mac loans as well as a big reduction in the FHA mortgage insurance premium is expected to boost the numbers for 2015. Meanwhile housing inventory continues to tighten nationwide with total listings year over year, down by 8.7%. Conforming no point 30 year fixed mortgage rates now average 3 7/8ths with 15 year rates closer to 3 1/8th. And now for something completely different… Did you know that owning an electric car in Norway grants you free public parking, free ferry trips, and even the right to drive in bus lanes?
For more information on a home purchase, refinance, or a reverse mortgage, visit our website at Aramco.Biz or call me at (877) 700-0942. This is Mehran Aram with today's ARAMCO Report.